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    September 12, 2024

    SMU survey: Buyers report mills still willing to negotiate prices

    Written by Brett Linton

    Almost three out of every four steel buyers who participated in our market survey this week reported mills are willing to negotiate new order prices. While negotiation opportunities still favor buyers, rates have edged lower from our previous market check, a downward trend witnessed since July.

    Every other week, SMU polls hundreds of steel market executives asking if domestic mills are willing to negotiate lower spot pricing on new orders. As shown in Figure 1, 72% of all buyers we surveyed this week reported mills were willing to talk price. This is five percentage points lower than our late-August rate, and down from the 80-92% range seen across June and July.

    Brett Linton

    Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.

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